Fred Sterling is a well known fund manager in London, well respected and successful (top of the investment trust performance tables in 2006), I've often wondered why he is involved in Mount Burgess and why he is throwing so much money at the company, as it seems an unlikely choice for him.
An extract from an article a few years ago he gives a clue: "His top tip for next year, and one where he firmly argues the share price could go up not just 10 times but 100 times, is a stock called Mount Burgess.
"It is my ultimate speculation," he says. "It is a quoted Australian mining exploration company. It is searching for zinc and silver in Botswana. Its market price today is A$7c (3p) but it is my top pick. It will make 100 times my initial investment. But it could take five to seven years to get there."
Since the article was published Sterling has not stopped buying shares. If his prediction holds, hopefully we will see some upward movement in the share price next year?!
MTB Price at posting:
0.8¢ Sentiment: None Disclosure: Held
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